Offshore Hydrocarbon Mapping announces that Sector Asset Management has agreed to invest up to £3.36 million in the Company via a cash subscription for 21,000,000 new Ordinary Shares at a price of 16 pence per share, representing a premium of approximately 220 per cent. to the closing mid-market price at 7 April 2010. The new Ordinary Shares will be issued in two tranches, the first 3,475,000 new Ordinary Shares under existing shareholder authorities. The balance of 17,525,000 new Ordinary Shares shall be issued if Shareholder approval is obtained at a General Meeting of OHM to be held on 28th April 2010.

The funds of £556,000 received from the first tranche will largely provide working capital for the recently announced CSEM surveys in India. The net proceeds of approximately £2.7 million from the second tranche will, if Shareholder approval is obtained, be invested in further improvements in WISE data processing and interpretation technology, upgrading the Group's marine CSEM acquisition equipment, further investment in sales and marketing activities directed towards seismic inversion and appraisal and monitoring applications for CSEM and general working capital purposes.

Richard Cooper, Offshore Hydrocarbon Mapping's CEO commenting on the Placings said,"I am very pleased to welcome Sector Asset Management as a significant new shareholder in the Company. Sector is an experienced and sophisticated investor in the oil service arena with a track-record of successful ventures in the upstream geophysical market. Already in 2010 we are experiencing increasing enquiries in both our marine CSEM survey business and our Rock Solid Images seismic business and this fundraising demonstrates Sector's confidence in the Group and its WISE integrated data interpretation offerings for clients."

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